“To supply goods is a source of profit, but to supply services is a ' burden upon industry.”

— Joan Robinson

It is for this reason that when, as a nation, ' we have never had it so good ' we find that we ' cannot afford ' just what we most need.
Source: Contributions to Modern Economics (1978), Chapter 21, Latter-Day Capitalism, p. 239

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Joan Robinson 46

English economist 1903–1983

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“To supply goods is a source of profit, but to supply services is a ' burden upon industry '. It is for this reason that when, as a nation, ' we have never had it so good ' we find that we ' cannot afford ' just what we most need.”

Joan Robinson (1903–1983) English economist

Source: Contributions to Modern Economics (1978), Chapter 21, Latter-Day Capitalism, p. 239

“The function of government is to provide you with service; the function of the media is to supply the Vaseline.”

L. Neil Smith (1946) American writer

"Some New Tactical Reflections" http://www.ncc-1776.org/tle1998/le35-19980115-08.html 15 January 1998.

“The opinions that the price of commodities depends solely on the proportion of supply and demand, or demand to supply, has become almost an axiom in political economy, and has been the source of much error in that science.”

David Ricardo (1772–1823) British political economist, broker and politician

Source: The Principles of Political Economy and Taxation (1821) (Third Edition), Chapter XXX, Influence of Demand and Supply, p. 260

“Anybody interested in solving, rather than profiting from, the problems of food production and distribution will see that in the long run the safest food supply is a local food supply, not a supply that is dependent on a global economy. Nations and regions within nations must be left free — and should be encouraged — to develop the local food economies that best suit local needs and local conditions.”

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“You must have no dependence on your own genius. If you have great talents, industry will improve them; if you have but moderate abilities, industry will supply their deficiency.”

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“Profits and prices are the street signs of the economy. Only fools flout them. The much–maligned price system works not only to secure supply but to conserve.”

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“L. Walras first formulated the state of the economic system at any point of time as the solution of a system of simultaneous equations representing the demand for goods by consumers, the supply of goods by producers and the equilibrium condition that supply equal demand on every market.”

Gérard Debreu (1921–2004) French economist and mathematician

Arrow, Kenneth J., and Gerard Debreu. " Existence of an equilibrium for a competitive economy http://cowles.econ.yale.edu/P/cp/p00b/p0087.pdf." Econometrica: Journal of the Econometric Society (1954): p. 265

Kenneth Arrow (1921–2017) American economist

Source: 1950s-1960s, "Existence of an equilibrium for a competitive economy." 1954, p. 265

“Los Angeles is an army camped far from its sources of supply, using distant resources faster than nature renews them.”

Paul Glover (1947) Community organizer in Philadelphia, Pennsylvania; American politician

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“Thus while diminishing returns do exist when industries are broadly defined, no industry can be considered in isolation from all the others, as supply and demand curve analysis requires.”

Steve Keen (1953) Australian economist

Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 3, The Price Of Everything And The Value Of Nothing, p. 69

“To supply goods is a source of profit, but to supply services is a ' burden upon industry.”

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